SEPTEMBER 30, 2015
US futures spiking higher at this 7AM hour, following world markets higher as traders await the ADP jobs data this morning at 8:15AM and Janet Yellen speech later this afternoon at 2PM EST.
NEWS:
- AAP: Starboard announces 3.7% stake in Advanced Auto Parts
- RAX: AMZN: Rackspace teams up with Amazon, reports the wsj
- RIO: announces plans to sell Australian coal min efor $606M
- SCOR : RENT: ComScore and Rentak agree to a stock-for-stock merger
- F:Workers at a key Ford plant in Missouri could go on strike as early as this weekend
- LMT: BA:Lockheed-Boeing launch venture wins $882 million U.S. contract. reports the wsj
ON THE ECONOMIC CALENDAR:
- 7AM: MBA Mortgage Applications
- 8:15AM: :ADP Jobs Report
- 9:45AM: Chicago PMI
- 10:30AM EIA Petroleum Inventories
- 2PM: Janet Yellen speaks
EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:
- COST:FQ4 EPS of $1.73 beats by $0.07: revenue of $35.78B misses by $440M
- CUDA:FQ2 EPS of $0.10 beats by $0.01: revenue of $78.37M misses by $0.32M: revenue +14.2% Y/Y: lowers guidance
- DMND:FQ4 EPS of $0.23 beats by $0.02.Revenue of $201.81M misses by $8.28M: revenue -7.9% Y/Y:guides in-line
ANALYSTS’ RATINGS CHANGES;
UPGRADES:
- CFG: upgrade: neutral to buy: UBS: $28
- MDVN: upgrade: underperform to market perform: Cowen
- SNP: upgrade: hold to buy: Jefferies:
- RL: upgrade: neutral to buy: UBS: $133
- ESPR: upgrade: sell to neutral: Chardan Capital: pt cut from $29 to $18
- ADI: upgrade: neutral to buy: Citi:
DOWNGRADES:
- GPS: downgrade: neutral to sell: UBS: pt cut from $40 TO $25
- GPS: downgrade: neutral to underperform: Mizuho: $26
- BIDU: downgrade: buy to hold: Summit Research: pt cut from $205 to $150
- BAS: downgrade: outperform to in-line: Imperial Capital: pt cut from $10 to $4.75
- SQM: downgrade: overweight to neutral; JP Morgan
- FLT: downgrade: buy to hold: Evercore
- CUDA: downgrade: outperform to neutral: Macquarie
- CUDA: downgrade: overweight to neutral: Piper Jaffray: pt cut from $40 to $20
INITIATIONS:
- FOSL: initiated: neutral: Mizuho: $60
- MD: initiated: buy: Mizuho: $88
- DRI: initiated: hold: Maxim Group: $80
- EAT: initiated: buy: Maxim Group: $64
- SBNY: initiated: outperform: RBC Capital: $168
- STL: initiated: outperform: RBC Capital: $18
PRICE TARGET CHANGES:
- DISCA: pt cut from $42 to $40: Topeka Capital
- DISCA: pt cut from $33 to $30: FBR Capital
- DISCA; pt cut from $36 to $30: RBC Capital
- RJET: pt cut from $10 to $8: Imperial Capital
- VZ: pt cut from $51 to $48: RBC Capital
- IHS: pt cut from $142 to $135: RBC Capital
- MON: pt cut from $130 to $110: Deutsche Bank